Equity Release Funding No.4

RE: EQUITY RELEASE FUNDING NO. 4 PLC
    GBP 125,000,000.00
    MATURING: 30/Jul/2039
    ISSUE DATE: 30/Jul/2004
    ISIN: XS0197423188

PLEASE BE ADVISED THAT THE INTEREST RATE FOR THE PERIOD
28/Apr/2006 TO 31/Jul/2006 HAS BEEN FIXED AT 4.915000 PCT.

DAY BASIS 94/365

INTEREST PAYABLE VALUE 31/Jul/2006 WILL AMOUNT TO
GBP 54.23 PER GBP 4,284.00 DENOMINATION.
GBP 108.45 PER GBP 8,568.00 DENOMINATION.
GBP 1,084.52 PER GBP 85,680.00  DENOMINATION.

IF YOU HAVE ANY QUERIES PLEASE CONTACT THE RATE FIX DESK ON
TEL: 44 20 7508 3858/3855 OR FAX: 44 20 7508 3881.
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